By Taiye Olayemi Wema Bank has recorded a profit before tax of N102.51 billion in 2024 financial year, representing an increase of 135 per cent when compared to the N43.59 billion recorded in 2023. The bank has proposed a dividend of N1.00 per share following its strongContinue Reading
By Taiye Olayemi Wema Bank says it aims to further stimulate entrepreneurship, attract investment, and accelerate Nigeria’s economic development by fostering a thriving technology ecosystem that complements the creative economy. Executive Director, Retail and Digital Business, Wema Bank, Mr Tunde Mabawonku, disclosed this at a news conference onContinue Reading
By Taiye Olayemi Gov. Babajide Sanwo-Olu of Lagos State on Wednesday approved the construction of First Bank’s 43-storey building headquarters within the Eko Atlantic City. Sanwo-Olu, while presenting the certificate of approval to First Bank, commended the effort of the management of the bank toward sustainingContinue Reading
ATM By Grace Alegba The Central Bank of Nigeria (CBN) says it has eliminated the three free monthly withdrawals transaction fees for cudtomers using other banks’ Automated Teller Machine (ATMs) from March 1. The apex bank disclosed this on Tuesday in a circular posted on its website, addressed to allContinue Reading
By Rukayat Adeyemi Managing Director, Wema Bank, Mr Moruf Oseni, on Wednesday disclosed the bank’s plan to raise N200 billion in fresh capital to complete its capital raise exercise. Oseni, who made this known in a statement in Lagos, said that the fresh capital would be raised through a combinationContinue Reading
FG urges investment in gas sector to create jobs, boost energy supplyContinue Reading
By Gregory O. Mmaduakolam An Economist, Mr Abba Adaudu, has decried the revocation of the licence of Heritage Bank by the Central of Nigeria (CBN) due to a breach of banking regulations. Adaudu, who is also a financial consultant, spoke with the News Agency of Nigeria (NAN) on Tuesday inContinue Reading
By Kadiri Abdulrahman The Central Bank of Nigeria (CBN), has announced revocation of the licence of Heritage Bank Plc with immediate effect. This is according to a statement issued by Hakama Sidi-Ali, the Acting Director, Corporate Communications Department of CBN on Monday in Abuja. Sidi-Ali said that the action wasContinue Reading
By Lucy Ogalue The African Development Bank (AfDB) Group President, Dr Akinwumi Adesina, has reaffirmed the bank’s commitment to continue to deliver at scale to countries in the continent. Adesina said this at the sideline of an event to celebrate the bank’s 60th anniversary. The event was held on theContinue Reading
By Lucy Ogalue Africa needs to close a financing gap of about 402.2 billion dollars annually by 2030 to fast-track its structural transformation. Dr Akinwumi Adesina, President, African Development Bank (AfDB), said this during the presentation of the African Economic Outlook (AEO) 2024 at the ongoing AfDB Annual Meetings inContinue Reading
